Salem Investment Counselors Inc. Buys 6,691 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• Salem Investment Counselors Inc. increased its stake in GE HealthCare Technologies Inc. by 5.7%, owning a total of 123,216 shares valued at approximately $9.13 million after purchasing 6,691 additional shares.
• The stock has a market capitalization of $34.90 billion and has seen a 52-week price range of $57.65 to $94.80, opening at $76.44 on Friday.
• Analysts have a consensus rating of "Moderate Buy" for GE HealthCare Technologies, with price targets suggesting a potential upside, particularly after recent upgrades from brokerages.

Salem Investment Counselors Inc. increased its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 5.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 123,216 shares of the company's stock after purchasing an additional 6,691 shares during the quarter. Salem Investment Counselors Inc.'s holdings in GE HealthCare Technologies were worth $9,127,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GEHC. D. E. Shaw & Co. Inc. raised its position in shares of GE HealthCare Technologies by 44.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 25,810 shares of the company's stock valued at $2,018,000 after purchasing an additional 7,980 shares during the period. Janus Henderson Group PLC raised its position in shares of GE HealthCare Technologies by 21.4% during the 4th quarter. Janus Henderson Group PLC now owns 62,620 shares of the company's stock valued at $4,895,000 after purchasing an additional 11,041 shares during the period. OMERS ADMINISTRATION Corp raised its position in shares of GE HealthCare Technologies by 22.3% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 17,354 shares of the company's stock valued at $1,357,000 after purchasing an additional 3,167 shares during the period. NorthRock Partners LLC raised its position in shares of GE HealthCare Technologies by 127.0% during the 4th quarter. NorthRock Partners LLC now owns 6,253 shares of the company's stock valued at $489,000 after purchasing an additional 3,498 shares during the period. Finally, Quantinno Capital Management LP raised its position in shares of GE HealthCare Technologies by 25.7% during the 4th quarter. Quantinno Capital Management LP now owns 36,040 shares of the company's stock valued at $2,818,000 after purchasing an additional 7,379 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on GEHC. Citigroup raised their price objective on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Zacks Research raised shares of GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 28th. BTIG Research reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. Morgan Stanley cut their target price on shares of GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Finally, Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.40.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC opened at $76.44 on Friday. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The stock has a market capitalization of $34.90 billion, a P/E ratio of 15.66, a PEG ratio of 2.98 and a beta of 1.13. The firm has a fifty day simple moving average of $74.46 and a two-hundred day simple moving average of $73.54. The company has a quick ratio of 0.93, a current ratio of 1.16 and a debt-to-equity ratio of 0.85.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.15. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The business had revenue of $5 billion during the quarter, compared to analysts' expectations of $4.96 billion. During the same period last year, the company posted $1.00 EPS. The business's revenue was up 3.5% on a year-over-year basis. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. On average, analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, July 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is 2.87%.

GE HealthCare Technologies Profile

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.

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